It should not surprise that several senior executives are in the race to replace Arundhati Bhattacharya as SBI boss when her term ends in September 2016.State Bank of India

State Bank of India (SBI) is India’s largest lender, accounting for more than a fifth of banking activity in India. It is also a banker to the government on crucial deals and a ‘too big to fail bank’ at that. So it should not surprise that several senior executives are in the race to replace Arundhati Bhattacharya as SBI boss when her term ends in September 2016. But the government will be extremely picky in anointing a successor. As the bank is considered a proxy for the Indian economy, the government is expected to choose a person who is not only a visionary but also articulate and aggressive in selling the India story. The new boss should have at least three years in office to maintain continuity. Insiders say Anshula Kant, chief financial officer, SBI, Dinesh Khara, MD of SBI Mutual Fund, and Praveen Kumar Gupta, MD, SBI, are in the reckoning. A clearer picture will emerge in 2016.

ITC LTD

One of the most dramatic races for succession in India Inc is playing out at tobaccohospitality-FMCG conglomerate ITC Ltd. Chairman YC Deveshwar, who is due to retire in 2017, has set the stage for two senior executives Sanjiv Puri and B Sumant to succeed him. Both were elevated to higher roles in early December. Puri was made the director of the FMCG business, including cigarettes, and will take additional responsibility for the paperboard, paper, packaging and printing businesses from January. That means he will be responsible for driving almost 80% of the conglomerate’s business. Sumant, chief executive of the cigarette business and noncigarette FMCG trade marketing and distribution, has been made the president of the entire FMCG business, including cigarettes. Both are 52 years old. Their age gives them an upper hand over executive director Nakul Anand, 58, who is incharge of hotel and lifestyle retailing business and will retire in two years. Deveshwar is said to be keen to appoint a younger successor.

L&T

Will he, won’t he? For years, Naik has flirted with retirement and naming a successor. In 2012, when the deadline on succession approached, the company split the post of chairman and managing director, retained Naik as chairman and extended his tenure. K Venkataramanan was named CEO and managing director. In 2015, when Venkataramanan was about to retire and again an announcement on succession was expected, the company again split the position and elevated SN Subrahmanyan as deputy managing director and president. In 2016, as Naik enters his 51st year of service at L&T, all eyes would be on him to see whether he finally calls it a day. He is again due to retire in 2017. Subrahmanyan leads the race, but L&T’s succession often thrown up surprises. Remember the exit of Ravi Uppal, a front runner, from L&T? At an event to celebrate his 50 years in the company, Naik hinted that he would be around to help the new leadership initiate the new five-year strategic plan that starts FY17. On the occasion, he quoted the song, “Jeena yahan, marna yahan, iske siva jaana kahan.”

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